Elon Musk’s huge Twitter investment took a new twist Tuesday with the filing of a lawsuit alleging that the colorful billionaire illegally delayed disclosing his stake in the social media company so he could buy more shares at lower prices. The complaint in New York federal court accuses Musk of… Read More
China’s exports grew in March despite virus; imports flat
China’s exports rose 15.7% over a year ago in March while imports were flat amid disruptions due to coronavirus outbreaks as the ruling Communist Party enforces a “zero-COVID” strategy to isolate every case. Exports rose to $276.1 billion despite anti-virus controls in Shanghai and other industrial hubs that are causing… Read More
California city’s rebuilding efforts hampered by shooting
The mass shooting that police say was a gun battle between rival gangs that left six dead and 12 wounded earlier this month shook the downtown core of California’s capital — and created another challenge for a city trying to redefine itself as a destination for more than just government… Read More
Inflation sky rockets to new 40-year high
Inflation soared over the past year at its fastest pace in more than 40 years, with costs for food, gasoline, housing and other necessities squeezing American consumers and wiping out the pay raises that many people have received. The Labor Department said Tuesday that its consumer price index jumped 8.5%… Read More
World Bank: Ukraine’s economy to shrink 45% amid war
The World Bank says Ukraine’s economy will shrink by 45.1% this year because of Russia’s invasion, which has shut down half of the country’s businesses, choked off imports and exports, and damaged a vast amount of critical infrastructure. Unprecedented financial and export sanctions imposed by Western allies in response to… Read More
Zuckerberg money won’t be in next round of aid for elections
The nonprofit that distributed most of the $350 million in donations from Facebook founder Mark Zuckerberg to election offices in 2020 said Monday that it won’t disburse similar donations this year after backlash from conservatives suspicious that the contributions tilted the outcome of the presidential race toward Joe Biden. Instead,… Read More
Once a retail giant, Kmart nears extinction in the U.S.
The familiar sights and sounds are still there: the scuffed and faded floor tiles, the relentless beige-on-beige color scheme, the toddlers’ clothes and refrigerators and pretty much everything in between. There’s even a canned recording that begins, “Attention, Kmart shoppers” — except it’s to remind folks about COVID-19 precautions, not… Read More
Watchdog: Feds ignoring asbestos, mold at women’s prison
A government watchdog has found a “substantial likelihood” the federal Bureau of Prisons committed wrongdoing when it ignored complaints and failed to address asbestos and mold contamination at a federal women’s prison in California that has already been under scrutiny for rampant sexual abuse of inmates. The U.S. Office of… Read More
Twitter: Musk won’t join board after proposing changes
Less than a week after announcing that Tesla CEO Elon Musk would join its board of directors, Twitter has reversed course. Twitter CEO Parag Agrawal announced the news, which followed a weekend of Musk tweets suggesting changes to Twitter, including making the site ad-free. Nearly 90% of Twitter’s 2021 revenue… Read More
Mechanic reaps millions from art found in dumpster
A trove of paintings and other artwork found in an abandoned barn has turned out to be worth millions. Notified by a contractor, Waterbury auto mechanic Jared Whipple retrieved the dirt-covered pieces in 2017 from a dumpster containing materials from a barn in Watertown. Whipple later found out they were… Read More
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